German nanotechnology specialist leon-nanodrugs has appointed Theron (Ted) Odlaug, as CEO for the company in Munich, and of its newly formed US subsidiary leon-nanodrugs Inc, which has offices in New York City and Chicago, Illinois.
The firm recently completed a Series A Financing round and will use the proceeds to expand its service business and to enter into service and co-development deals with pharmaceutical partners.
Odlaug brings more than 35 years of experience to the firm, having held leadership roles in the biopharmaceutical industry.
Prior to this new position, Odlaug was Executive Chairman of Cedarburg Pharmaceuticals until the company was sold to Albany Molecular Research in 2014.
From 2011, he was Executive Chairman and CEO of Planet Biopharmaceuticals until the company was sold to Ares Life Sciences in 2014.
From 2008 until 2011, he was President and CEO of CyDex Pharmaceuticals, at which time the company was sold to Ligand Pharmaceuticals.
Prior to CyDex, Odlaug was Managing Partner of EIR Healthcare Advisors. Before that, he was Executive Vice President and a member of the senior management committee at Fujisawa Healthcare until its merger with Yamanouchi in 2005, which resulted in the formation of Astellas Pharma. He left Astellas in 2006 after supporting the US post-merger integration process.
Cornelia Beier, co-founding CEO of leon-nanodrugs, will continue to support the company as Chief Corporate Officer.
At the same time, the firm has appointed Anne Burger as Finance Director. She is Managing Director at MedVenture, a Munich-based corporate finance and strategic advisory company focusing on the life sciences and healthcare industry.
leon-nanodrugs was founded by a group of experienced drug development professionals in mid-2011. The company focuses on the reformulation of approved or promising small molecule and protein drug candidates based on its patented MJR nanotechnology platform. It develops novel oral and parenteral formulations by using GMP (Good Manufacturing Practice) compliant nanotechnology to improve bioavailability, solubility and dissolution rates.
